Veeco Instruments Inc. (VECO) reported first quarter adjusted net income of $0.49 per share after the bell Monday, down from $1.44 per share last year. The consensus estimate was for EPS of $0.19. Second quarter adjusted EPS is expected to be between $0.29 and $0.48, compared to the consensus estimate of $0.23.
Veeco Instruments gapped up sharply Tuesday and climbed during the first half hour of trade, before settling into a range. Shares finished up by 4.63 at $34.82, with volume at nearly a 6-month high. The stock rose above a range and set an 8-month high.
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